OAKley International, a leading footwear brand, is seeking to diversify its business by acquiring a storage chip company. This move comes after several shoe manufacturers have expanded into new industries.
In 2021, Lianhua Storage was established, producing a range of storage solutions, including PPI/SPI NAND FLASH, DDR3L, DDR4, LPDDR4X, and MCP.
The acquisition is seen as a strategic move by OAKley International to reduce its dependence on the footwear industry and expand into the technology sector. However, the details of the acquisition, including the price and timeline, have not been disclosed.
The shoe industry has been facing intense competition in recent years, with many brands struggling to stay afloat. By diversifying into the tech industry, OAKley International is seeking to stay ahead of the curve and capitalize on the growing demand for storage solutions.
The acquisition is expected to be completed in the near future, pending regulatory approvals. Once complete, it will be interesting to see how OAKley International's foray into the tech industry impacts the company's business and reputation.